💦 Did you know that although China bans decentralized crypto activities, they are still widely implementing blockchain technology in many fields? Here are some highlights on how China is developing this technology.
🔒 China's Strategy: Focusing on CBDC and Controlled Implementation
China has maintained a ban on decentralized crypto since 2017, but leads in the controlled adoption of blockchain and CBDC.
e-CNY (digital renminbi) is the largest CBDC project in the world, with cumulative transactions exceeding 2.3 trillion CNY by the end of 2025, an increase of 800% from 2023.
From 2026, e-CNY will pay interest based on deposit interest rates (approximately 0.05%), transitioning from 'digital cash' to 'digital deposits'.
The mBridge platform (with BIS, Hong Kong, Thailand, UAE) processes over 55 billion USD in cross-border transactions.
🔸 In finance, e-CNY integrates with banks, commercial payments (through the Belt and Road Initiative), reducing dependence on the USD. The National Blockchain Research Center promotes Web3, with over 290,000 blockchain companies. The RMB International Operations Center network in Shanghai uses blockchain for on-chain payments.
🔸 Daily applications include: supply chains, food traceability, digital government, and green payments. Large enterprises such as China’s Fortune 500 use blockchain to improve performance.
🔹 The strength of the top-down approach is rapid and stable deployment (e-CNY processes 3.4 billion transactions). It helps reduce financial risks and supports geopolitical competition (replacing SWIFT). However, the focus on control may limit some forms of innovation, and attract lower global capital.
👉 This strategy prioritizes autonomy and sustainable growth through controlled blockchain technology. In 2026, e-CNY may become a reference model for Asian countries.
😊 What do you think about China's application of blockchain? Is Vietnam learning from this model? Please share your thoughts in the comments! 🚀
Thúy BNB
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⚠️ Disclaimer
This article is intended for informational and educational purposes only and is NOT investment advice.
Cryptocurrency (crypto) carries high risks; you may lose your entire investment.
Always DYOR (Do Your Own Research before investing).
Only invest money that you can afford to lose.
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